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Originally Posted by iheartthed
I don't think that 800K number is correct. That would be almost every manufacturing job in the state. The state's unemployment peaked at 14.5%, which is insanely high, but unemployment was insanely high everywhere.
NYC also lost a LOOOOT of jobs, and I don't think the financial sector has fully recovered to pre-recession. What helped NYC mask the financial sector losses was a major increase in tech sector activity this decade.
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Again, Michigan was in a one-state depression. The NYC financial industry never had remotely similar job cuts.
Michigan actually lost more jobs than the the U.S., as a whole, which is insane. Michigan lost 806,000 jobs, which was one out of every six jobs. The U.S. lost 786,000 jobs during the same time period. When nearly 20% of your jobs vanish, the recovery will look stronger than elsewhere, where 2% of jobs vanished.
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